Digital Transactions Authoritative, insightful and timely information for payments professionals
Slim CD Inc., a transaction-software company in Coral Springs, Fla., announced today its product has been certified by First Data Corp., allowing banks and independent sales organizations supported by FDC to offer merchants high-speed card transactions on personal computers through Slim CD's software. The company says its product can process …
Read More »Pay By Touch Scores a Sweeping Victory in a Patent Suit
Pay By Touch, a San Francisco-based company that has been marketing a point-of-sale payment system that relies on fingerprint scans rather than cards or other devices to authenticate transactions, scored a sweeping victory today in litigation over the central patents to its technology. Judge Maxine Chesney of the U.S. District …
Read More »A Processing Glitch Affects Debit Payments at Winn-Dixie
Winn-Dixie Stores Inc. is investigating a network glitch that caused “duplicate postings” Tuesday of debit card transactions secured by personal identification numbers at its stores, according to company representatives. The Jacksonville, Fla.-based supermarket chain, which operates 1,070 stores across 12 states in the Southeast, says the problem occurred from late …
Read More »TNS Beefs Up Wireless Networking with Its Synapse Deal
TNS Inc. has acquired the primary asset of U.S. Wireless Data Inc., which in March filed for bankruptcy protection. Reston, Va.-based TNS, formerly Transaction Network Services, says its acquisition of New York-based U.S. Wireless Data's Synapse point-of-sale processing system strengthens the company's efforts to build its business in emerging transaction …
Read More »NetDeposit: Corporate Clients Are Pushing Check 21 Changes
Demand from corporate clients?combined with a deadline that's only five months away–is a major factor pushing banks into check imaging, according to a top executive with one major supplier of check-processing software. Although many banks are poised to begin accepting so-called image replacement documents when the Check Clearing for the …
Read More »A Payments Leader Sounds an Alarm About Non-Banks
Deploring the extent to which banks have turned over key functions in consumer payments to non-bank companies, a leading figure in the payments industry on Thursday called on banks to “seize back” leadership in the industry. In a keynote address delivered at the Bank Administration Institute's TransPay trade show in …
Read More »Deal-Maker iPayment Reports Strong First-Quarter Results
Nashville-based card payments processor iPayment Inc. reported financial results today that included a more than doubling in charge volume processed as well as hefty increases in revenue and net income. The company, which closed at the end of 2003 on a $55 million cash acquisition from First Data Corp. that …
Read More »A U.K. Banker’s Warning for His U.S. Brethren: Get with the Chip
Bankers in the U.S. who bemoan the absence of a business case for smart cards may soon find one now that a massive rollout of chip-based credit and debit cards secured with personal identification numbers is well under way in the U.K., a British banker warned today. That's because fraudsters …
Read More »Nova Buys a 10,000-Merchant Portfolio from Union Bank
Nova Information Systems, an Atlanta-based transaction processor, announced today it has agreed to acquire a portfolio of 10,000 merchants from Union Bank of California in a deal expected to close by June 30. Pricing and other terms were not disclosed. Nova says the acquisition is expected to add $3 billion …
Read More »Authorize.net Sets Its Sights on Brick-and-Mortar Merchants
Authorize.net Inc., which serves as a payments gateway for 91,000 mostly mid-size and small Web-based merchants, is making a major play for the brick-and-mortar point of sale. With the backing of its new owner, Burlington, Mass.-based Lightbridge Inc., Authorize.net is revving up its marketing and re-seller efforts to expand rapidly …
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